Arizona State Retirement System Sells 307 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Arizona State Retirement System decreased its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 0.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 32,224 shares of the technology company’s stock after selling 307 shares during the quarter. Arizona State Retirement System’s holdings in Varonis Systems were worth $1,303,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of Varonis Systems in the 4th quarter valued at about $36,000. Johnson Financial Group Inc. bought a new stake in shares of Varonis Systems in the 4th quarter worth approximately $61,000. Transce3nd LLC bought a new stake in shares of Varonis Systems in the 4th quarter worth approximately $62,000. New Age Alpha Advisors LLC bought a new stake in shares of Varonis Systems during the fourth quarter valued at approximately $70,000. Finally, NBC Securities Inc. boosted its position in shares of Varonis Systems by 100,200.0% during the first quarter. NBC Securities Inc. now owns 2,006 shares of the technology company’s stock valued at $81,000 after purchasing an additional 2,004 shares in the last quarter. Institutional investors own 95.65% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wolfe Research upgraded Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Friday, March 28th. Cantor Fitzgerald reissued an “overweight” rating and set a $60.00 price target on shares of Varonis Systems in a report on Tuesday, June 10th. Jefferies Financial Group dropped their price objective on Varonis Systems from $50.00 to $45.00 and set a “hold” rating for the company in a research note on Monday, March 31st. Morgan Stanley dropped their price objective on Varonis Systems from $54.00 to $46.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Finally, Wall Street Zen raised Varonis Systems from a “sell” rating to a “hold” rating in a research note on Monday, April 28th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.50.

Insider Buying and Selling at Varonis Systems

In related news, Director Den Bosch Fred Van sold 6,000 shares of Varonis Systems stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $50.00, for a total value of $300,000.00. Following the completion of the transaction, the director owned 131,666 shares in the company, valued at $6,583,300. The trade was a 4.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.30% of the company’s stock.

Varonis Systems Stock Up 1.4%

Shares of NASDAQ VRNS opened at $51.30 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $5.74 billion, a PE ratio of -63.33 and a beta of 0.76. The stock’s fifty day simple moving average is $49.19 and its two-hundred day simple moving average is $44.86. Varonis Systems, Inc. has a 12-month low of $36.53 and a 12-month high of $60.58.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.26). The business had revenue of $136.42 million during the quarter, compared to analysts’ expectations of $133.10 million. Varonis Systems had a negative net margin of 15.88% and a negative return on equity of 20.01%. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.03) earnings per share. As a group, analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

About Varonis Systems

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, alert, and secure enterprise data in North America, Europe, the Middle East, Africa, and internationally. Its software enables enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential personal data belonging to customers, and patients and employees' data; financial records; source code, strategic and product plans; and other intellectual property.